Bitcoin's new all-time high (ATH) last week has sparked a new upward trend in the market. Following the cryptocurrency king, several altcoins are on the verge of breaking their own records, with some already surpassing them over the weekend.
BeInCrypto has analyzed three altcoins that investors should pay attention to, which are close to new all-time highs this week.
Hyperliquid (HYPE)
HYPE is the major altcoin closest to a new all-time high, currently trading at $38.96. This altcoin is just 9.2% away from breaking the key resistance of $42.25, making it a strong candidate to break through in the coming days.
The Ichimoku indicator is positioned below the candlestick, supporting HYPE's continued upward momentum. This technical setup suggests that HYPE can extend its impressive 50% rise this week and successfully form a new all-time high.
However, investor profit-taking remains a risk factor. A sudden increase in selling pressure could push the HYPE price back to the support level of $32.19. Falling below this support level would invalidate the upward outlook and suggest a potential decline.
KET
KET is currently trading at $0.554, showing less than a 6.3% difference from its all-time high (ATH) of $0.590. If KET breaks this resistance, it would mark the second ATH for this meme coin within a week, indicating a strong upward momentum that investors should watch.
This week, KET has secured a key psychological support level at $0.500. Maintaining this support provides an essential foundation for the coin to continue its upward trajectory, boosting investor confidence and sustaining the current rally.
However, meme coins like KET are vulnerable to high volatility and unpredictable holders. A sudden sell-off could push the price back to $0.500 or even drop to $0.422, invalidating the current upward outlook and increasing the risk of a decline.
UNUS-SED-LEO (LEO)
LEO is the furthest among major altcoins from reaching its all-time high (ATH) of $10.33. Achieving this goal requires a 16.19% increase, which needs a strong market momentum and investor confidence to drive the price up.
The Relative Strength Index (RSI) is moving slightly above the neutral line into the upward area. Maintaining this as support suggests that upward momentum could increase. If Bitcoin achieves another ATH this week, LEO's price could break through the resistance levels of $9.11 and $9.92.
However, unfavorable market conditions could keep LEO below $9.11. The price could enter a correction above $8.86 or even drop to $8.51, reflecting cautious investor sentiment and potential downward pressure.
